Iran's annual inflation rate down to 36 pct

TEHRAN, Oct. 1 (Xinhua) -- The Central Bank of Iran announced that the inflation rate for the 12-month period leading to the end of the sixth Iranian month (Sept. 22) hit 36 percent, Tehran Times daily reported on Tuesday.

The inflation rate for the 12-month period ended on the fifth Iranian calendar month (Aug. 22) was 39 percent, according to a report by the Central Bank.

The Central Bank Governor Valiollah Seif was quoted as saying that special attention must be paid to curb runaway inflation, especially the rising price of consumer goods.

Regulating the volume of liquidity, adopting proper monetary policies and continuous monitoring of banks are some of the ways to help reform the national economy, said Seif.

Utilization of modern technologies in the banking system, revision of interest rates and strict supervision of finance and credit institutions are other measures that can be taken to boost the national economy, he added.

Due to the West's sanctions on Iran's energy sector and financial system over the country's controversial nuclear program, the Iranian currency depreciated sharply against foreign currencies in the past year.